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The Efficiency of China's Stock Market
book

The Efficiency of China's Stock Market

by Shiguang Ma
November 2017
Intermediate to advanced content levelIntermediate to advanced
302 pages
16h 35m
English
Routledge
Content preview from The Efficiency of China's Stock Market
Both the parametric and non-parametric t-statistics in Panel B of Table 8.1
suggest that the shareholders react to the announcement of bonus proposals at the
event dates significantly in suitable directions. The t-values of small-bonus stocks
are below -1.96 or -2.58 at event dates 0 and +1, which illustrates that the
small-bonus proposals represent unfavourable information at conventional levels of
significance. Meanwhile, the t-values of middle-bonus and large-bonus stocks are
larger than +1.98 or +2.58 at the event date 0 or at alternative event date -1. This
implies that the middle-bonus and large-bonus proposals are ...
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Publisher Resources

ISBN: 9781351146913